Hexaware Technologies, an IT consulting firm from India, has acquired Wellesley, Massachusetts-based customer experience consulting firm and Amazon Web Services (AWS) partner Mobiquity for roughly $182 million.
Baring Private Equity Asia owns a majority share in Hexaware.
Mobiquity is one of a handful of Digital Customer Experience Consulting Partners for AWS. The company creates digital products for well-known brands including AWS, Rabobank, Philips, Wawa, Otsuka, and Backbase.
Along with its Massachusetts headquarters, Mobiquity has offices in seven other states, as well as offices in India, England, Amsterdam, and the Netherlands. Mobiquity’s 650-person workforce will join Hexaware, according to reports.
Executive Perspectives
R Srikrishna, CEO, Hexaware Technologies commented on the deal:
“Hexaware enters an exciting new phase of growth and capability with the acquisition of Mobiquity Inc. Mobiquity strengthens two of our key strategic offerings: Cloudify Everything and Customer Experience Transformation. We are seeing a strong demand for these capabilities and, with this acquisition, we will be able to further accelerate our contributions to our customers’ business growth. Both Hexaware and Mobiquity have created very strong impact for their clients and have a mutually complementing position. Our combined capabilities will enhance our market positioning and opportunity to make an impact for our clients. “
John Castleman, CEO of Mobiquity also commented:
“Today we start a bold new chapter in Mobiquity’s growth story. Joining hands with Hexaware gives us added scale, a broader portfolio of offerings that are relevant to our clients’ digital journeys, and the opportunity to strengthen the Mobiquity brand.”
Hexaware says the acquisition will bolster its Customer Experience Transformation business. The deal will also help the company gain stronger footing in its key verticals of banking and pharmaceutical.
